REC Ltd. transfers stake in Rampur Sambhal Transco Limited to Powergrid.

The entire shareholding of REC Transmission Projects Company Limited (RECTPCL), a wholly owned subsidiary of REC Limited in Rampur Sambhal Transco Limited, comprising of 50,000 equity shares, have been transferred along with all its assets and liabilities on December 12, 2019, to Power Grid Corporation of India Limited, the successful bidder selected through Tariff Based Competitive Bidding Process for construction of 765/400/220 kV GIS substation, Rampur and 400/220/132 kV GIS substation, Sambhal with associated lines.

Hence, with effect from the aforesaid date, the above Project Specific SPV is not subsidiary of RECTPCL & REC.

EQUITYBULLS